Uranium Energy Corp. has signed long-term uranium supply agreements with two U.S. nuclear utilities, covering a combined 1.1 million pounds of uranium concentrate. The contracts run through 2032 and price every delivery at the prevailing spot-market price, leaving UEC exposed to changes in uranium prices rather than locking in a fixed rate.
The agreements add scheduled utility sales to UEC’s unhedged strategy. The utilities were not named, and the contracts do not specify a fixed dollar value.
Key details
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Deliveries total 1.1 million pounds. Each contract calls for 100,000 pounds a year. One runs from 2027 through 2032, and the other from 2028 through 2032. That means planned deliveries are 100,000 pounds in 2027 and 200,000 pounds annually from 2028 through 2032.
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Prices will track the spot market. The agreements have no price floors, ceilings, discounts or fixed pricing. The revenue UEC receives for each delivery will therefore depend on the prevailing spot price at the time.
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The contracts extend UEC’s unhedged approach. The company said its unhedged sales strategy produced an average realized price of $93.13 per pound in fiscal 2026. That figure is historical; the new contracts do not guarantee the same price for future deliveries.
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UEC says it is in discussions with other utilities. The company described those talks as ongoing, but announced no additional agreements.
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The company also pointed to potential U.S. government demand. It cited a National Nuclear Security Administration need for 4 million pounds a year of unobligated U.S.-origin uranium, with deliveries potentially beginning as soon as 2030. UEC also referenced Army plans to deploy more than 20 microreactors and a related uranium requirement. These needs are separate from the two utility contracts announced.
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UEC says its Texas and Wyoming operations are positioned to supply domestic demand. The company also cited about 12 million pounds a year of licensed production capacity across those platforms.
Plain-English implications
The agreements establish a delivery schedule but do not lock in sales prices or revenue. UEC retains exposure to spot uranium prices on the contracted pounds, while the utilities secure scheduled supply. The contracts provide for a combined 1.1 million pounds over six years; the company’s separate discussions with other customers have not yet resulted in announced commitments.